Money transfers to Georgia fell 22% in February

TBILISI, DFWatch–The amount of money transfers to Georgia in February fell by 21.7 percent compared to same period last year, according to a new report by the National Bank.

The total amount of incoming transfers in February was USD 82.0 million laris; USD 22.7 million less than in February 2014.

Russia is the top originating country with USD 28.2 million in total; 34.4 percent of the transfers in February. Next is Greece with USD 13.7 million or 17.7 percent of the transfers and Italy with USD 9.0 million or 10.9 percent of transfers.

Also high up on the list are the United States, Turkey, Israel, Spain and Germany.

In February, USD 14.6 million was transferred out of Georgia. Last year, USD 12.6 million was wired abroad in February.